Bitcoin Price Watch; Breakout and Intra-Range Update

When we published the first of our twice daily bitcoin price watch pieces this morning, we noted that – based on the volatility seen in the markets over the weekend – we would be a widen our standard range link in the region of $10 or $15, and in doing so, bring both our breakout and our intra-range strategies into play. We also highlighted a triangle that had formed on the 15 minute chart, and suggested that this triangle could represent a certain level of consolidation – and in turn – signal a return to the upside momentum on its breaking.

Action has now matured throughout the Monday morning session in Europe, and as we head into the afternoon in the US, and the amount, into the Asian session tonight, what has this action told us about the bitcoin price, and how can we interpret it and use it in this evening’s analysis? As ever, take a look at the chart below to get an idea of what’s on, and the range we are looking at tonight.

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Screen Shot 2016-04-25 at 16.39.35Read more ... source: TheBitcoinNews